Singapore stock watch: CDL, Keppel, GuocoLand, Sabana Reit, ESR-Reit

The Singapore Exchange Centre in Shenton Way. PHOTO: REUTERS

SINGAPORE (THE BUSINESS TIMES) – The following companies saw new developments that may affect trading of their securities on Thursday (Aug 20):

City Developments Limited (CDL): Millennium Hotels and Resorts (MHR) cut 159 jobs – or about 15 per cent of its Singapore-based workforce – on Wednesday, following earlier reductions in its foreign worker headcount over the course of this year. MHR is the global brand of Millennium & Copthorne Hotels, a wholly-owned subsidiary of CDL. CDL shares closed at $8.02 on Wednesday, down $0.08 or 1 per cent.

Keppel Corp: Temasek Holdings’ unit Fullerton Fund Management sold 696,800 shares worth nearly $3.39 million in Keppel Corp on Monday. This takes Temasek’s direct and deemed stake in Keppel from 21.03 per cent to 20.99 per cent. Shares in Keppel closed at $4.75 on Wednesday, down $0.02.

GuocoLand: The mainboard-listed property developer on Thursday said it is expanding its multibillion-dollar integrated development on Beach Road, Guoco Midtown, to include a second luxury residential project named Midtown Modern. GuocoLand Singapore’s group managing director Cheng Hsing Yao said separately in an interview with The Business Times that Wallich Residence, famed for Singapore’s most expensive penthouse, is 62 per cent sold. Shares of GuocoLand closed at $1.38 on Wednesday, down $0.01 or 0.7 per cent.

Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana Reit), ESR-Reit: Quarz Capital Management said on Wednesday that it, together with other minority shareholders, looks forward to receiving guidance and support from the Monetary Authority of Singapore and the Singapore Exchange Regulation on the proposed Sabana Reit-ESR-Reit merger. Units in Sabana closed half a cent higher at 37.5 cents on Wednesday, while units in ESR-Reit also ended the day half a cent higher at 39 cents, before the announcement.

Aoxin Q&M Dental Group: The Catalist-listed group said on Wednesday that its Dalian operations had resumed in recent days after fulfilling the required standard operating procedures and meeting the reopening criteria governed by the Health Commission of Dalian City. The counter closed flat at 12.5 cents unchanged on Wednesday, before the announcement.

“Source: [Singapore stock watch: CDL, Keppel, GuocoLand, Sabana Reit, ESR-Reit] © Singapore Press Holdings Limited. Permission required for reproduction”

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